RGT Capital invests in Australia's AxiCorp

AxiCorp will use the capital to accelerate its geographic expansion and to grow its product offering, according to a release. Financial details were not disclosed, but Australian media have described it as a "multi-million dollar" investment, with RGT taking a significant minority stake in the company.

AxiCorp is the parent of retail foreign exchange (FX) and contracts for difference (CFD) broker AxiTrader. The company operates in Australia, Dubai and London, and provides FX and CFD trading services to clients in more than 150 countries; it oversees about A$100 billion ($77 billion) per month in transactions.

RGT has made a number of diverse investments in Australia, including manufactured housing estate company Tasman Lifestyle - now owned by Gateway Lifestyle - app developer Tigerspike, and craft brewer Young Henrys.

"For us it is always about working with someone who ‘gets it,'" said AxiCorp CEO Rajesh Yohannan. "RGT have a well-established track record in and around our space. They get it. That they understand all the nuances and risk metrics of this industry means they will add immeasurably to the refinement of our operational focus."

RGT's commitment to AxiCorp follows a similar deal in March, when CHAMP Private Equity invested an undisclosed amount in FX and CFD broker Pepperstone. AxiCorp said the deal indicates that the sector is becoming increasingly attractive for investors.

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• Topics
• Australasia
• Financials
• Expansion
• Australia
• Financial Services
• Growth capital